Are a holistic view of a customer’s income and expenditure & early arrears detection the future for collections?

28 July 2017

As featured in Credit Connect

James Connolly, Head of Debt and Utilities, Callcredit Information Group

According to July’s Money Statistics published by the Money Charity, the level of unsecured debt in the UK at the end of May was £199.7 billion. News around personal debt will always be a topic of concern and be in the headlines but what can organisations do to help support those in financial difficulty and identify debt before it goes bad?

Even though I&E assessments have been carried out routinely as part of the collections call structure for the best part of the last 10 years, with particular focus since the inception of the FCA’s treating customers fairly (TCF) outcomes and principles for businesses, there has been little innovation in this space and the customer journey remains much the same – often dictated by disjointed and bureaucratic processes.

By embracing new technology, like end-to-end decisioning tools that completely transform the customer experience and provide a holistic view of an individual’s level of overall debt, creditor organisations can get ahead of the curve and benefit from the streamlined processes.

Read the full article in Credit Connect

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